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Dipping our toes into real estate can be intimidating to the uninitiated, on the matter! Trying to do it on our own…well, it can feel almost impossible. Thankfully, there are others that we can turn to, especially during this time of uncertainty and upheaval around the world.
Who are these people, though, and is it worth going to them? Today, I will be covering some of the things that people new to the industry can face. Many of them can either be mitigated or assisted by a coach, but remember that each experience will be personal to you – not every helper is created equal, after all.
The Challenges
You may be surprised by just how many there are. We hear about most of them from various news outlets or online bloggers. You can see an example of that on this page. Yet, many of us only consider this after we try to get started.
Ready to find your dream home in Colorado?
Let us help you. Call or Text Kenna Real Estate Group at 303-955-4220 to get personalized assistance from our expert real estate agents. Find out what your home is worth in today's market.
1. COVID-19 is Still Causing Problems
Now, I know. You are sick of hearing about it. I am sick of hearing about it – many suffer from pandemic fatigue. However, it would be irresponsible and frankly silly to ignore the effect that it has had on the real estate market. How has it done that?
Well, for one thing, it was dangerous to gather large groups of people indoors. To some extent, it still is, especially for anyone vulnerable. So, showing homes was tricky – for example, there could not be any open houses.
Acknowledging that the industry has innovated in several ways to meet these new stipulations is essential. Many showings are done virtually now, and the technology has dramatically improved. The need to go through a slide show of photographs is essentially over, as video and VR technology have made it much easier and less tedious. The Stock Market is…not Looking so Hot.
You may be looking at this point and thinking, that is not the real estate market; how does this relate?! I understand that concern, but trust me. There is a correlation between the two. Both are forms of investment, after all.
Now, the reason they correlate largely concerns the costs associated with debt. Because the stock market is so unstable right now, it is almost impossible to predict these figures. That means people are more reluctant to buy into all sorts of investments, including real estate.
While some gurus like Krista Mashore can offer insights on this and how to work around it, that does not make it non-existent. It is valuable to know what we are up against either way!
Ready to find your dream home in Colorado?
Let us help you. Call or Text Kenna Real Estate Group at 303-955-4220 to get personalized assistance from our expert real estate agents. Find out what your home is worth in today's market.
2. The Economy in General – it is in a Rough Spot
In all honesty, this is an enormous understatement. If you have been paying attention to the news, you know how bad things are in the United States. Prices are rising for almost everything, from food and gas to the phone bills. At the same time, wages are not catching up.
The inflation problem is also significant. Most of us find that our spending power is significantly less than it used to be before the pandemic – to a considerable extent. This will harm most markets, and the real estate one is no exception (though it would be nice if it were).
Uncertainty about the future is not inspiring in terms of purchasing properties. I know many people who are not considering buying a house right now, so that can make real estate look quite unappealing for many investors. However, plenty of people still want new homes, so do not let that discourage you.
There are plenty of reports on the economy here in the United States, like this: https://www.bea.gov/news/glance. Educating ourselves on the issues going on right now is a great way to combat them eventually as well. We can hardly tackle problems that we do not know about or understand, after all,
Ready to find your dream home in Colorado?
Let us help you. Call or Text Kenna Real Estate Group at 303-955-4220 to get personalized assistance from our expert real estate agents. Find out what your home is worth in today's market.
3. Politics are more Polarized than Ever
I understand if this is another one that needs to be more closely linked to real estate. However, you might be surprised by how many laws relate to it. It does not stop there, either –policies matter, but so do the opinions of people in neighborhoods.
Affordable housing is a highly contested issue, for example. Even if people acknowledge that many would not want it in their suburbs or hometowns, it is just one example of how these matters are relevant to the topic at hand. While it may not appear necessary initially, you will start to understand as you try to sell properties.
Additionally, the political views of a neighborhood on both sides of the equation might discourage some people from moving there. So, it is essential to keep in mind, especially in a time of high division in this country.
Ready to find your dream home in Colorado?
Let us help you. Call or Text Kenna Real Estate Group at 303-955-4220 to get personalized assistance from our expert real estate agents. Find out what your home is worth in today's market.
Final Thoughts: is it Worth it?
Now, there are plenty of other problems facing the real estate world that I should have mentioned here to avoid droning on for too long. If the ones I already presented sound difficult to surmount on your own, the others probably are, too.
That is why seeking a real estate coach can be worth your time. Someone highly experienced in this field can provide valuable insights on how to proceed despite everything happening in our country and globally. Consider talking to one if that sounds like something you find helpful.
While not everyone will find them worth it, it is up to you to make that decision for yourself!
